Fundamental Determinants of Exchange Rates - Hardcover

Hardcover

ISBN 10: 0198287992 ISBN 13: 9780198287995

Verlag: Clarendon Press, 1996

Inhaltsangabe

"This book greatly enhances our understanding of the behavior of real exchange rates. It provides an elegant model based on a solid theoretical foundation that links real exchange rates to their fundamental economic determinants and takes proper account of stock and flow considerations. The authors provide a masterful account of how changes in productivity and thrift affect the real exchange rate, and show that the long-run impact depends crucially on whether the change reflects the former fundamental (investment) or the latter (consumption). The empirical implementation uses state-of-the-art cointegration and error correction methodologies that are eminently well suited to capture the short-run adjustment of the real exchange rate to its medium- to long-run equilibrium value. The empirical results are extremely encouraging, as the economic fundamentals identified by the authors can explain a subbstantial part of the movement in the real exchange rate of a number of countries."--Peter Clark, International Monetary Fund

Über diesen Titel

Über die Autorin bzw. den Autor

Jerome L. Stein is Professor of Economics and Eastman Professor of Political Economy emeritus at Brown University.

Details zur Ausgabe

• Verlag: Clarendon Press
• Erscheinungsdatum: 1996
• Sprache: Englisch
• ISBN 10: 0198287992
• ISBN 13: 9780198287995
• Einband: Gebundene Ausgabe
• Anzahl der Seiten: 213
• Herausgeber: Stein Jerome L., Allen Polly Reynolds
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Ufficio Anagrafiche Messaggerie; ufficio.anagrafiche@meli.it; ; Via Verdi, 8; Assago Milano; 20090; Italien